PHIO vs QQQ: Correlation
Phio Pharmaceuticals Corp. (PHIO) and Invesco QQQ Trust (QQQ) show a weak relationship: their 3-year correlation of weekly returns is 0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PHIO and QQQ?
On 3 years of weekly data the PHIO/QQQ correlation comes out at 0.23, weak. The past 12 months show a weaker link (0.05) than the 3-year average (0.23). The 5-year figure is 0.14, and annualized covariance runs at 515.9 %².
Among the 12 assets we track against PHIO, QQQ sits near the bottom by co-movement, at rank #9. The last year tells two different stories: QQQ led by 71.1 percentage points, -44.8% for PHIO against +26.3% for QQQ. One caveat on sizing: PHIO is 5.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
PHIO vs QQQ: side by side
| PHIO (Phio Pharmaceuticals Corp.) | QQQ (Invesco QQQ Trust) | |
|---|---|---|
| 1-year return | -44.8% | +26.3% |
| 5-year return | -99.5% | +95.4% |
| Volatility (ann.) | 113.9% | 19.6% |
| Beta vs S&P 500 | 1.91 | 1.28 |
| Max drawdown (3Y) | -96.3% | -22.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.44% |
| Expense ratio | – | 0.18% |
| Assets under management | – | $452.8B |
| Sector / category | US Listed | ETF · US Growth & Tech |
QQQ is a Large Growth fund from Invesco: $452.8B under management, 104 holdings, a 0.18% expense ratio, a 0.44% trailing dividend yield.
Year-by-year returns
| Year | PHIO | QQQ |
|---|---|---|
| 2022 | -62.8% | -32.6% |
| 2023 | -83.0% | +54.9% |
| 2024 | -73.7% | +25.6% |
| 2025 | -41.7% | +20.8% |
| 2026 | +6.7% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PHIO and QQQ good diversifiers for each other?
Reasonably. At 0.23, PHIO and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PHIO and QQQ?
The PHIO/QQQ correlation stands at 0.23 on a 3-year window (1 year: 0.05, 5 years: 0.14), computed from weekly returns as of 2026-08-27.
Is QQQ a good diversifier for PHIO?
Reasonably. At 0.23, PHIO and QQQ keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: PHIO correlations · QQQ correlations
